Evergy's (EVRG) Q3 Earnings Miss Estimates, Sales Down Y/Y

Evergy Inc. Price, Consensus and EPS Surprise

Evergy Inc. price-consensus-eps-surprise-chart | Evergy Inc. Quote

Highlights of the Release

Total operating expenses in the third quarter was $1,038.9 million, down 1% from the year-ago-quarter’s $1,049.4 million owing to lower fuel and purchased power along with operating and maintenance costs.

Interest and related charges in the reported quarter was $90.8 million, up 1.9% from the year-ago level.

This year as of Sep 30, Evergy repurchased 27.5 million shares worth $1,628.7 million. Since the inception of the repurchase program, the company has bought back 43.9 million shares worth $2.7 billion.

Financial Update

Cash and cash equivalents as of Sep 30, 2019, were $50.1 million compared with $160.3 million as on Dec 31, 2018.

Long-term debt as of Sep 30, 2019, was $8,749.2 million compared with $6,636.3 million as on Dec 31, 2018.

Cash from operating activities in the first nine months of 2019 was $1,447.3 million compared with $1,191.6 million a year ago.

Guidance

Evergy reaffirmed its 2019 earnings per share guidance at the range of $2.80-$3.00

Zacks Rank

Currently, Evergy has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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